The Association has gone one step further than some of the other UK accounting bodies and created a new branded CPD scheme for its members, ACCA Realise, described as the "ACCA's leading CPD scheme for accountants and finance professionals
providing global opportunities which maintain and develop skills, and support career progression."
Like some of the other bodies, it has opted for a phased implementation:
2005, phase 1 - members admitted since 1 January 2001, and all practising certificate and insolvency licence holders
2006, phase 2 - members admitted between 1 January 1995 and 31 December 2000
2007, phase 3 - all remaining members.
Members can, of course, opt to join sooner than these dates by contacting the Association and registering to submit a return under the new scheme online.
ACCA Realise has been devised to be flexible and responsive to members' individual circumstances. There are two routes to participation in ACCA's CPD scheme, one hours-based and the other output-based :
1. The unit scheme route encourages members to evaluate their learning and development needs and plan their CPD. This would involve selecting learning activities that ensure relevant knowledge and skills are maintained, or developed. 40 units of CPD, approximately equivalent to 40 hours are required each year.
2. The approved CPD employer route: members may already have access to comprehensive learning and development schemes supported by their employer. These schemes can be recognised as effectively providing ACCA members with CPD if the employer becomes an approved CPD employer.
Alternatively, if a member is also a member of another IFAC accounting body and that CPD scheme is compliant with IFAC's CPD International Education Standard 7, they may choose to follow that body's route. In these cases members must fully comply with their body's requirements.
ACCA Realise does not prescribe any style or type of training activity. The ACCA requires members to ensure they maintain and develop business and/or financial knowledge and skills that are relevant to their role and career aspirations. Members will also be asked to state on their annual CPD return, due on 1 January as part of the annual subscription process, that they maintain competence in professional ethics. Practising certificate and insolvency licence holders will still be required to participate in technical CPD training.
For more information see the ACCA website at www.accaglobal.com/cpdrealise, which includes online CPD appraisal and recording tools, as well as access to a range of online training resources.